According to data from the Vietnam Real Estate Brokers Association, in the primary market, in the third quarter of 2025, the selling price of commercial apartments fluctuated widely, on average, newly opened projects were priced at 78 million VND/m2, more than 30% of new supply was priced at 100 million VND/m2 or more. In Ho Chi Minh City, the average primary price reached 91 million/m2, lower than Hanoi thanks to the supply from the suburbs with a significantly lower price level.
Savills Vietnam's real estate market report for the third quarter of 2025 shows that in Ho Chi Minh City, primary supply has decreased quarterly but increased sharply yearly, reaching 5,200 units, mainly concentrated in the eastern and western areas of the city.
Investors are still focusing on developing the mid-range segment. The new supply of 2,000 units comes from a new project and the next five phases. Although there are signs of improvement, the current supply is still not enough to meet actual demand.
In the context of a prolonged supply shortage, the transaction volume in the quarter increased to 2,700 units, with an absorption rate of 51%, thanks to stable housing and investment demand. Over the past year, both the primary and secondary markets have recorded strong price increases. Although the third quarter of 2025 had a slight adjustment due to major incentives being implemented in large-scale projects to free up handed-over inventories, the general trend of the market still maintained growth momentum.
Mr. Troy Griffiths - Deputy General Director of Savills Ho Chi Minh City - said that market sentiment is improving, new supply is starting to return, and the absorption rate is increasing. However, apartment prices are increasingly out of reach for buyers.
The Southern apartment market is increasingly diverse, as satellite provinces emerge as more affordable options than Ho Chi Minh City. In the first 9 months of 2025, the Ho Chi Minh City market showed a clear decline in payment capacity, when apartments under 3 billion VND only accounted for 9% of transactions in the city, but accounted for more than 60% in neighboring provinces.
In particular, Binh Duong holds up to 90% of the area's affordable apartment transactions. The merger of administration and new urban planning with ambitious infrastructure plans will continue to increase the attraction of satellite markets.
Mr. Troy Griffiths commented that new supply in Ho Chi Minh City will continue to be limited in the short term, while prices are expected to increase. The pressure of affordability makes home buyers tend to move to neighboring provinces at more accessible prices. By 2028, the future supply is expected to reach 60,000 units from 80 new projects and subsequent phases.
